Exhibit 99.1

		Penn Virginia Resource Partners, L.P.   Five Radnor Corporate Center, Suite 500, 100 Matsonford Road, Radnor, PA 19087

FOR IMMEDIATE RELEASE

Director - Investor Relations

Phone: 610-975-8204

E-Mail: invest@pvrpartners.com

PVR PARTNERS ANNOUNCES COMPLETION OF MARCELLUS SHALE

MIDSTREAM PIPELINE SYSTEM ACQUISITION FROM CHIEF AND

ANNOUNCES NEW BOARD APPOINTMENTS

RADNOR, PA – May 17, 2012 . . . Penn Virginia Resource Partners, L.P. (NYSE: PVR) (“PVR”) today announced that it has completed the acquisition of Chief Gathering LLC (“Chief Gathering”) from Chief E&D Holdings LP (“Chief”). William H. Shea, Jr., Chief Executive Officer of PVR’s general partner, said, “We are very pleased to have successfully closed on the acquisition of Chief Gathering, and to welcome the Chief Gathering employees to PVR. With the completion of this acquisition PVR has transformed its business to that of a predominantly midstream natural gas gathering and processing company primarily focused in the Marcellus Shale and Granite Wash regions.”

Mr. Shea noted that, “The acquisition of the Chief Gathering systems, along with the continued development of our gathering systems in Lycoming and Wyoming Counties, Pennsylvania, clearly position PVR as the leading independent midstream service provider in the northeastern area of the Marcellus Shale. We are privileged to serve a significant roster of major producers that have a long-term view and commitment to energy development in six of the most prolific counties in the Marcellus. The expansion of our trunkline and gathering systems, coupled with the complementary geographic location of Chief’s gathering systems allows us to better service the midstream needs of our current customers, and positions us to offer a flexible and efficient gathering solution to other producers in the region.”

The final purchase price of $1.06 billion reflects various adjustments including a January 1, 2012 economic effective date of the acquisition. Consideration paid was $850 million in cash and approximately 10.35 million units of a new class of PVR limited partner interests (“Special Units”). The newly-issued Special Units are substantially similar to PVR common units, except that the Special Units will not pay or accrue distributions until they automatically convert to common units, on a one-for-one basis once the Special Units have not received six consecutive quarterly distributions following issuance.

The cash portion of the acquisition was financed through a combination of equity and debt issuances as follows:

In connection with the Class B Unit issuance to Riverstone, the Board of Directors of PVR’s general partner has confirmed the appointment of Andrew W. Ward and E. Bartow Jones to the Board.

““We are gratified to have the confidence of experienced investors like Riverstone, Chief, Kayne-Anderson and Magnetar, who have taken significant equity positions in PVR in support of the Chief Gathering acquisition. We are also pleased to welcome Andrew Ward and Bartow Jones to the Board of Directors of our general partner, and look forward to benefitting from the valuable professional experience and energy industry insight they will contribute to PVR,” concluded Mr. Shea.

Penn Virginia Resource Partners, L.P. (NYSE: PVR) is a publicly traded limited partnership which owns and operates midstream natural gas gathering and processing businesses, and owns and manages coal and natural resource properties and related assets. Our midstream natural gas assets are located principally in Texas, Oklahoma and Pennsylvania and include more than 4,500 miles of natural gas gathering pipelines and 7 processing systems with approximately 480 million cubic feet per day of capacity. We own approximately 900 million tons of proven coal reserves in Northern and Central Appalachia, and the Illinois and San Juan Basins. For more information about PVR, visit our website at www.pvrpartners.com.

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This press release includes “forward-looking statements” within the meaning of federal securities laws. All statements, other than statements of historical facts, included in this release that address activities, events or developments that PVR expects, believes or anticipates will or may occur in the future are forward-looking statements. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of uncertainties, factors and risks, many of which are outside PVR’s ability to control or predict, which could cause results to differ materially from those expected by management. Such risks and uncertainties include, but are not limited to, regulatory, economic and market conditions, the timing and success of business development efforts, PVR’s ability to integrate the business of Chief with PVR’s business and realize the anticipated benefits from the Chief Acquisition and other uncertainties. Additional information concerning these and other factors can be found in our press releases and public periodic filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the year ended December 31, 2011 and our most recently filed Quarterly Reports on Form 10-Q. Readers should not place undue reliance on forward-looking statements, which reflect management’s views only as of the date hereof. We undertake no obligation to revise or update any forward-looking statements, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.

This press release does not constitute an offer of any securities for sale. The Class B Units and Special Units have not been registered under the Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.